SECURE Project - Security of Energy Considering its Uncertainty, Risk and Economic implications

The ambition of the SECURE project is to build a comprehensive framework that considers all the issues related to the topic of security of supply, including geopolitics, price formation and the economic and technical design of energy markets inside and outside the EU.
We in particular intend to develop tools, methods and models to measure and assess security of energy supply for the EU both outside the EU and inside the EU. The objective is to build tools aimed at evaluating the vulnerability of the EU to the different risks which affect energy supplies in order to help optimising the Union’s energy insecurity mitigation strategies, including investment, demand side management and dialogue with producing countries.
This project will therefore consist in developing energy security indicators for all the major energy sources in order to identify the risk factors and quantify the EU exposure to volume and price risks in the short and long terms, including the value consumers give to supply security. Costs and benefits of energy security will be evaluated for different energy demand scenarios to help policy makers providing the most appropriate institutional, political and industrial solutions.
All major energy sources and technologies (oil, natural gas, coal, nuclear, renewables and electricity) will be addressed from upstream to downstream with both a global and sectoral analysis studying in depth issues such as technical, economic/regulatory and geopolitical risks. The analysis will not be limited to supply issues, but will integrate also demand issues related to energy security.

The SECURE project has both a strong quantitative and qualitative component and will at the end not only provide a comprehensive methodological and quantitative framework to measure energy security of supply, but it will also propose policy recommendations on how to improve energy security taking into account costs, benefits and risks of various policy choices.

Seventh Framework Programme

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The European Community is not liable for any use that may be made of the information contained herein.